VANCOUVER - Some facts about the Northern Gateway project:Cost: Estimated to be $7 billion, but that figure has been increasing.Route: Twin pipelines would run 1,177 kilometres from Bruderheim, just outside Edmonton, to a tanker port in Kitimat, on the northern coast of B.C.Oil: A westbound pipeline would carry up to 525,000 barrels a day of synbit, a blend of refined synthetic oil and bitumen, two types of dilbit and synthetic oil to Kitimat for export.Condensate: A second pipeline heading east [Read more]
News
Southern Pacific Installs Third ICD Configuration at STP-McKay and Provides Update on Pad 102 Downspacing
CALGARY, ALBERTA--(Marketwired - June 17, 2014) - Southern Pacific Resource Corp. ("Southern Pacific" or the "Company") (TSX:STP) has completed another Inflow Control Device ("ICD") installation on one of its SAGD well pairs at the STP-McKay Thermal Project. The ICDs were installed on the 2P5 well pair, making this the third well pair of the 12 existing well pairs equipped with these devices. The 2P5 well pair was shut-in for 14 days to cool off and complete the workover; it was placed back on [Read more]
Spartan Energy Corp. Announces Exercise of Over-Allotment Option, Completion of $149.5 Million Equity Financing and Updated Corporate Presentation
CALGARY, ALBERTA--(Marketwired - June 17, 2014) - Spartan Energy Corp. ("Spartan" or the "Company") (TSX VENTURE:SPE) is pleased to announce that it has closed its previously announced bought-deal financing of 39,870,500 common shares ("Common Shares"), which includes the exercise in full of the over-allotment option of 5,200,500 Common Shares, at a price of $3.75 per Common Share for gross proceeds of approximately $149.5 million (the "Financing"). The syndicate of underwriters was co-led by [Read more]
Spyglass Resources Corp. Announces Board of Director and Executive Management Appointments
CALGARY, ALBERTA--(Marketwired - June 17, 2014) - Spyglass Resources Corp. ("Spyglass", or the "Company") (TSX:SGL)(OTCQX:SGLRF) is pleased to announce the following board of director and executive management appointments, effective July 1, 2014: Tom Buchanan will assume the role of Chairman of the Board; Dan O'Byrne will assume the role of Chief Executive Officer and Director in addition to his current role as President; and Randall Findlay, the current Chair of the Board, will become [Read more]
Strategic Oil & Gas Ltd. Provides Operations Update
CALGARY, ALBERTA--(Marketwired - June 17, 2014) - Strategic Oil & Gas Ltd. ("Strategic" or the "Company") (TSX VENTURE:SOG) is pleased to provide the following operations update. MUSKEG STACK UPDATE The Company's latest Muskeg Stack well (10-24) was drilled in March 2014 with 1,438 metres of horizontal section and a 15 stage completion program. The well has been tied in and producing for 52 days with initial rates well over the Company's Muskeg type curve. Initial rates for the Muskeg [Read more]
Oil slips as U.S. deploys small force to Iraq amid worsening violence
The price of oil dropped Tuesday after the U.S. said it was deploying a small group of troops to Iraq, which helped soothe fears somewhat over the prospect of a broader conflict that could disrupt crude supplies. Benchmark U.S crude for July delivery dropped 29 cents to US$106.61 a barrel in electronic trading on the New York Mercantile Exchange. The contract lost 1 cent to settle at $106.90 on Monday. Brent crude, a benchmark used to price international oils, fell 33 cents to $112.61 a [Read more]
Feds’ final decision on Northern Gateway later today
VANCOUVER - The federal government will announce its much-anticipated decision on the Northern Gateway pipeline after markets close today. Under its own rules, the Conservative government has a June 17 deadline for the final word on whether the 1,200-kilometre pipeline can be built linking the Alberta oilsands to a port on the British Columbia coast. A joint review panel of the National Energy Board and the Canadian Environmental Assessment Agency released a report in December recommending [Read more]
Keystone XL decision shouldn’t be symbol of Cda-US relations: Hillary Clinton
TORONTO - Washington's long-awaited decision to approve or reject the Keystone XL pipeline should not become a symbol of the relationship between the United States and Canada, former U.S. secretary of state Hillary Clinton said Monday.Speaking before a business crowd of roughly 1,800 in Toronto, Clinton said the controversial project — designed to move Alberta crude oil to the Gulf Coast — has become "a proxy for everything" as proponents and critics lock horns over its fate."However this [Read more]
Kelt Enters Into an Agreement to Acquire Strategic Montney Assets in Its Core Area Near Grande Prairie
CALGARY, ALBERTA--(Marketwired - June 16, 2014) - Kelt Exploration Ltd. ("Kelt" or the "Company") (TSX:KEL) has entered into an agreement to acquire a private Canadian oil and gas company with crude oil and natural gas assets located at Valhalla/La Glace, adjacent to the Company's core producing areas at Pouce Coupe and Spirit River in west central Alberta. The acquisition is subject to standard industry closing conditions and closing is expected to occur on or around July 2, 2014. The [Read more]
Alberta regulator checks oilsands companies for odours
PEACE RIVER, Alta. - Alberta's energy regulator is mounting a two-week, around-the-clock compliance check near Peace River to ensure oilsands companies are following new rules on odour emissions."We only have so many people in each field office across Alberta, so we've essentially saturated this area with staff to do a targeted sweep," Jeff Toering of the Alberta Energy Regulator said Monday.The sweep involves two three-person teams moving from facility to facility in alternating 12-hour shifts [Read more]